Janney Montgomery Scott LLC grew its stake in shares of Texas Pacific Land Co. (NYSE:TPL – Free Report) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,502 shares of the financial services provider’s stock after acquiring an additional 1,891 shares during the quarter. Janney Montgomery Scott LLC owned about 0.07% of Texas Pacific Land worth $18,251,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Janney Capital Management LLC purchased a new stake in Texas Pacific Land in the fourth quarter valued at approximately $226,000. Atomi Financial Group Inc. purchased a new stake in shares of Texas Pacific Land during the 4th quarter valued at $341,000. UMB Bank n.a. increased its holdings in shares of Texas Pacific Land by 2,839.8% during the 4th quarter. UMB Bank n.a. now owns 2,881 shares of the financial services provider’s stock worth $3,186,000 after buying an additional 2,783 shares during the last quarter. Sandbox Financial Partners LLC increased its holdings in shares of Texas Pacific Land by 17.4% during the 4th quarter. Sandbox Financial Partners LLC now owns 2,722 shares of the financial services provider’s stock worth $3,010,000 after buying an additional 404 shares during the last quarter. Finally, HB Wealth Management LLC boosted its holdings in Texas Pacific Land by 7.1% in the fourth quarter. HB Wealth Management LLC now owns 1,153 shares of the financial services provider’s stock valued at $1,276,000 after acquiring an additional 76 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Texas Pacific Land
In related news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total value of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at approximately $810,784.72. This represents a 26.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought 78 shares of company stock valued at $105,810 in the last ninety days. Company insiders own 6.50% of the company’s stock.
Texas Pacific Land Price Performance
Texas Pacific Land (NYSE:TPL – Get Free Report) last posted its earnings results on Wednesday, November 6th. The financial services provider reported $4.63 EPS for the quarter. Texas Pacific Land had a net margin of 65.34% and a return on equity of 40.57%. The business had revenue of $173.56 million for the quarter. During the same period in the previous year, the firm posted $4.58 earnings per share.
Texas Pacific Land Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is currently 32.84%.
Texas Pacific Land Company Profile
Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.
See Also
- Five stocks we like better than Texas Pacific Land
- Investing In Automotive Stocks
- Bloom Energy: Powering the Future With Decentralized Energy
- With Risk Tolerance, One Size Does Not Fit All
- Dividend Powerhouses: Blue-Chip Stocks Built for the Long Haul
- Golden Cross Stocks: Pattern, Examples and Charts
- Why Traders Are Buying the Dip on Johnson & Johnson Stock
Receive News & Ratings for Texas Pacific Land Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Texas Pacific Land and related companies with MarketBeat.com's FREE daily email newsletter.